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    Keller Williams Royal Oak

    423 South Washington Ave, Royal Oak, MI 48067
    (248) 288-3500
    Size: 10+ agents

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    Property Types

    • Land
    • Commercial Lease
    • Commercial Sale
    • Residential Multi Family
    • Residential

    Listings

    For Sale (23)

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    Detroit Land for Residential Development
    Contact for pricing

    Detroit Land for Residential Development

    R2 zoned vacant land suitable for various residential developments.

    2190 Philip St, Detroit, MI 48215
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    Residential Land in Detroit
    $42,000

    Residential Land in Detroit

    Land suitable for building three new homes in Detroit.

    14166 Mayfield St, Detroit, MI 48205
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    Residential Land in Southfield, MI
    $130,000

    Residential Land in Southfield, MI

    Vacant residential lot ready for new construction in Southfield.

    26597 Primary Dr, Southfield, MI 48034
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    Buildable Lot Near Paradise Lake
    $60,000
    0.34 Acres

    Buildable Lot Near Paradise Lake

    Buildable lot near Paradise Lake in historic Idlewild community.

    6629 S Tampa, Idlewild, MI 49642
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    Detroit Two-Unit Brick Home
    $180,000
    3,016 SF

    Detroit Two-Unit Brick Home

    Two-unit, six-bedroom brick home near University of Detroit.

    16562 Baylis St, Detroit, MI 48221
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    Residential Land in Hazel Park
    Contact for pricing

    Residential Land in Hazel Park

    Land for sale in Hazel Park with freeway access.

    89 W Hayes Ave, Hazel Park, MI 48030
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    Residential Land in Roseville, MI
    Contact for pricing

    Residential Land in Roseville, MI

    Private residential land with mature landscaping and privacy fencing.

    N Hillview St, Roseville, MI 48066
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    Detroit Commercial Building with Parking
    $380,000
    4,125 SF

    Detroit Commercial Building with Parking

    Commercial building with parking lot and drive-thru lanes.

    12336 Morang Dr, Detroit, MI 48224
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    Detroit Duplex: Investment Opportunity
    $280,000
    1,920 SF

    Detroit Duplex: Investment Opportunity

    Well-maintained Detroit duplex with two spacious units, great investment potential.

    3485 Parker St, Detroit, MI 48214
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    Detroit Investor Special in Redevelopment
    $94,900
    2,022 SF

    Detroit Investor Special in Redevelopment

    Investment opportunity in a rapidly growing Detroit redevelopment zone.

    1710 Lee Pl, Detroit, MI 48206
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    Royal Oak New Build Opportunity
    $455,000
    3,500 SF

    Royal Oak New Build Opportunity

    Cleared lot for custom home in desirable Royal Oak neighborhood.

    1825 Northwood Blvd, Royal Oak, MI 48073
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    Royal Oak Office For Sale
    $425,000
    1,220 SF

    Royal Oak Office For Sale

    Classy 1220 SF office in downtown Royal Oak.

    417 E 4Th St, Royal Oak, MI 48067
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    Prime Commercial Land in Novi
    $515,000
    0.23 Acres

    Prime Commercial Land in Novi

    Vacant lot in Novi's thriving commercial corridor.

    12 13, Novi, MI 48375
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    Turnkey Hunting Property in Posen
    $250,000
    70.00 Acres

    Turnkey Hunting Property in Posen

    70-acre hunting property with proven track record.

    N Grand Lake Hwy, Posen, MI 49776
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    Land in Crooked Creek
    $74,900
    7.00 Acres

    Land in Crooked Creek

    Seven acres of land zoned for agricultural and residential use.

    Crooked Creek Dr, Vassar, MI 48768
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    Spacious Warehouse in Burton, Michigan
    $84,999
    2,080 SF

    Spacious Warehouse in Burton, Michigan

    Warehouse with new roof, optimized for storage in Burton.

    32005 Berent St, Burton, MI 48529
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    Detroit Brick Two-Unit Building
    $125,000
    1,973 SF

    Detroit Brick Two-Unit Building

    Two-unit brick building suitable for investors or homeowners.

    15895 Cloverlawn St, Detroit, MI 48238
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    Mixed-Use Property in Ferndale, MI
    $775,000
    3,986 SF

    Mixed-Use Property in Ferndale, MI

    Multi-unit property with residential and commercial opportunity in Ferndale.

    695 Livernois St, Ferndale, MI 48220
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    Mixed-Use Property in Ferndale, MI
    $775,000
    3,186 SF

    Mixed-Use Property in Ferndale, MI

    Live, work, and play in this unique mixed-use property.

    695 Livernois St, Ferndale, MI 48220
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    Secluded Wooded Land For Sale
    $75,840

    Secluded Wooded Land For Sale

    Secluded, wooded land perfect for hunting and recreation.

    1135 N Baldwin Rd, Oxford, MI 48371
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    Detroit Investor Special Opportunity
    $109,900

    Detroit Investor Special Opportunity

    Investment property in Herman Kiefer redevelopment zone with strong potential.

    1710 Lee Pl, Detroit, MI 48206
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    Brick Two-Unit Multifamily Property
    $125,000

    Brick Two-Unit Multifamily Property

    Two-unit property suitable for investors or homeowners.

    15895 Cloverlawn St, Detroit, MI 48238
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    Land in Hazel Park
    Contact for pricing

    Land in Hazel Park

    Land for sale in Hazel Park with freeway access.

    89 W Hayes Ave, Hazel Park, MI 48030
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    For Lease (3)

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    Downtown Royal Oak Office Space
    $2,700 / Mo
    1,220 SF

    Downtown Royal Oak Office Space

    Classy 1220 SF office in the heart of Royal Oak.

    417 E 4Th St, Royal Oak, MI 48067
    View details
    Southfield Retail Space For Rent
    $2,000 / Mo
    1,340 SF

    Southfield Retail Space For Rent

    Commercial property in a high-traffic location, ideal for business.

    24070 W 10 Mile Rd, Southfield, MI 48033
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    Royal Oak Commercial Space Available
    $9,277 / Mo
    4,123 SF

    Royal Oak Commercial Space Available

    Prime commercial space in Royal Oak's Social District.

    423 S Washington Ave, Royal Oak, MI 48067
    View details

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    Keller Williams Royal Oak
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Keller Williams Royal Oak
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